Emaar Properties has announced a remarkable 46% rise in property sales for the first half of 2025, reaching Dhs46 billion ($12.5 billion), showcasing its best sales performance for any half-year period.
This surge reflects ongoing demand in its planned communities and diverse lifestyle offerings, along with substantial growth across its retail, hospitality, and international sectors.
As of June 30, the company’s revenue backlog climbed to Dhs146.3 billion ($39.8 billion), marking a 62% increase from the previous year, which provides strong insight into future revenue expectations.
Consolidated revenue rose to Dhs19.8 billion ($5.4 billion), representing a 38% increase compared to H1 2024.
Emaar reported an EBITDA of Dhs10.4 billion ($2.8 billion), which is a 30% improvement year-over-year, leading to EBITDA margins that surpassed 52%.
Net profit before tax also reached Dhs10.4 billion ($2.8 billion), a growth of 34% compared to the same quarter last year.
In the second quarter, Moody’s elevated Emaar’s credit rating to Baa1 with a stable outlook, following an earlier upgrade to BBB+ by S&P Global, which also maintained a stable outlook.
Mohamed Alabbar, the founder of Emaar, stated, “The figures alone do not tell the entire story. Behind every sale, every project, and every community, there is an intention. We have a team questioning: how can we improve? How can we enhance someone’s everyday experience? The first half of 2025 exemplifies that philosophy.”
Strong Momentum in Development Business, Growth in Retail and Leasing
Emaar Development recorded property sales of Dhs40.6 billion ($11.1 billion) during H1 2025, representing a 37% year-over-year increase, driven by the launch of 25 new projects.
Revenue from UAE development rose by 35% to Dhs10 billion ($2.7 billion), with net profit before tax observing a 50% increase to Dhs5.5 billion ($1.5 billion).
The total consolidated UAE development revenue for Emaar reached Dhs13.5 billion ($3.7 billion), a growth of 50%. The backlog for UAE projects rose to Dhs128.6 billion ($35 billion), also representing a 50% increase since H1 2024.
The shopping malls and leasing segment saw revenue climb 14% to Dhs3.2 billion ($871 million), with EBITDA surging 18% to Dhs2.8 billion ($762 million).
The average occupancy rate of malls was recorded at 98% as of June 30.
Expansion in International and Hospitality Segments
International property sales more than tripled year-over-year, amounting to Dhs5.3 billion ($1.4 billion), while revenue increased by 26% to Dhs1 billion ($272 million), largely fueled by operations in India and Egypt.
International activities accounted for nearly 5% of total revenue in H1 2025.
The hospitality, leisure, and entertainment divisions generated Dhs2.1 billion ($572 million) in revenue, supported by an 80% average occupancy rate across UAE hotels, an increase from 78% in the previous year.
During H1 2025, two hotels with over 600 keys were added to the portfolio.
Strengthening Recurring Revenue Base
Emaar’s recurring revenue segment, which includes malls, hotels, leisure, entertainment, and commercial leasing, produced Dhs5.3 billion ($1.4 billion) in revenue in H1, an increase of 15% year-on-year.
EBITDA from this segment rose 16% to Dhs4.1 billion ($1.1 billion), representing 40% of the group’s total EBITDA.
Emaar also initiated a Youth Council and new mentorship programs, along with continuing its sponsorship of professional certifications, including the CFA, to foster the growth of Emirati talent.
In terms of ESG efforts, the company reported ongoing advancements in energy efficiency and responsible sourcing, building upon its improved MSCI ESG rating.